Student accommodation provider University Partnership Programme has struck a £57.2m deal with Nottingham Trent University which will see it develop student homes and facilities.
The 40-year agreement covers the development and management of 911 student bedrooms, plus a new student union building and other facilities, to be built by contractor Vinci.
The scheme is expected to be developed over the next 18 months.
RBS has provided a £45.8m five-year loan for the project, with UPP providing £11.3m of equity.
This is the fifth project that UPP has worked on with Nottingham Trent University since the partnership was formed in 2003.
Pinsent Masons advised Nottingham Trent; Addleshaw Goddard and DWPF advised UPP; Clifford Chance and DTZ advised RBS.
daniel.cunningham@estatesgazette.com
